In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), AveXis Inc. (NASDAQ:AVXS) reported that Flynn James E has picked up 613,611 of common stock as of 2017-05-31.
The acquisition brings the aggregate amount owned by Flynn James E to a total of 613,611 representing less than 2.21% stake in the company.
For those not familiar with the company, AveXis, Inc. is a clinical-stage gene therapy company. The Company operates through the developing and commercializing gene therapy treatments for patients suffering from neurological genetic diseases segment. The Company’s product candidate, AVXS-101, is its gene therapy product candidate that is in a Phase I clinical trial for the treatment of spinal muscular atrophy (SMA) Type 1, which is a genetic disorder characterized by motor neuron loss and associated muscle deterioration. The survival motor neuron (SMN) is a protein for normal motor neuron signaling and function. Patients with SMA Type 1 either have experienced a deletion of their SMN1 genes, which prevents them from producing adequate levels of functional SMN protein, or carry a mutation in their SMN1 gene. AVXS-101 is designed to deliver a functional human SMN gene into the nuclei of motor neurons that then generates an increase in SMN protein levels.
A glance at AveXis Inc. (NASDAQ:AVXS)’s key stats reveals a current market capitalization of 1.81 Billion based on 27.79 Million shares outstanding and a price at last close of $70.75 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-02-10, Knudten picked up 5,000 at a purchase price of $20.00. This brings their total holding to 5,000 as of the date of the filing.
On the sell side, the most recent transaction saw Nagendran unload 22 shares at a sale price of $82.58. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on AveXis Inc. (NASDAQ:AVXS) as things move forward to see if its progress aligns with these transactions.
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